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The Chinese yuan is ‘fairly valued’ despite recent weakening, says IMF mission chief

  • The Chinese yuan is still "fairly valued" despite recent declines against the dollar recently, said an International Monetary Fund official.
  • The divergence in U.S. and China monetary conditions contribute to the recent slide in the Chinese yuan.
  • While the IMF praised China's progress on reducing financial sector risks and in further opening its economy, it said credit growth was still unsustainably high as some aspects of the country's rebalancing had slowed.

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